- Affiliate collects the invoice total from the winning bidder — including the vehicle fees. If the winning bidder is a dealer, affiliate will remove all the vehicle fees except the Doc. Admin. fee. Affiliate Instructions For Dealers
- All winning bidders are required to pay the $59 doc. admin. fee - No Exceptions.
- Very few buyers are exempt from paying motor vehicle sales taxes. If a winning bidder claims to be tax exempt, please be sure they meet Minnesota's criteria for tax exemption from motor vehicle sales Link to MN Dept of Revenue Motor Vehicle Non-Taxable Transactions. If you determine the buyer meets the criteria for motor vehicle tax exemption, they must complete and sign and enter their exemption code on a Form PS2000, Application to Title/Register a Vehicle. The PS2000 form must be submitted to K-BID's Title Dept. at the time the title work is submitted for processing.
- Affiliate assists the winning bidder in completing the required title work. Prior to the removal day, it is strongly suggested the affiliate review the Title Work Checklist for each titled asset that is sold on the auction. It is important for the affiliate to know where exactly the bidder and seller need to sign the title (the checklist for each titled asset has a link to the same type of title showing where and how many times both the seller and buyer need to sign the title). If the title is going in a company name, the person picking up the titled asset must personally sign the title on the appropriate lines for the company. Signing the title with just the company name will not be accepted. The checklist will also provide the affiliate with a customized list by title of all the paperwork that must be completed, signed and sent into K-BID's Title Dept. to process the title.
- Before the buyer leaves the removal,double check that everything that is listed on the checklist is completed and signed properly. As stated above if the title is going in a company name, the person picking up the titled asset must personally sign the title on the appropriate lines for the company. Signing the title with just the company name will not be accepted.
Within 8 Days of the Auction Removal Date
- The Title Dept. must have the completed title work in hand. The title checklist must be filled out and must accompany the title work submitted to the Title Department - indicating any vehicles that were No Show or No Sale. Completed means ALL the required documents have been properly signed and the vehicle registration form filled out completely. After verifying this is the case, the Title Dept. will submit the title work to the DMV for processing.
- Incomplete or late submission of title work and/or payment will result in a late penalty and will affect the affiliate's ability to publish auctions with t/r assets in the future.